Rimage (RIMG) Cuts Q4 Outlook on Qumu Impact
Tweet
Share
E-mailGet Alerts RIMG Hot Sheet
Price: $10.50 --0%
Financial Fact:
Total cost of revenues: 2.86M
Today's EPS Names:
SQZB, ARDS, MDRX, More
Financial Fact:
Total cost of revenues: 2.86M
Today's EPS Names:
SQZB, ARDS, MDRX, More
Join SI Premium – FREE
Rimage Corporation (Nasdaq: RIMG) sees Q411 revs of about $22 million and non-GAAP loss of 15 cents to 17 cents per share.
The Street was looking for revs of $24.8 million and EPS of 11 cents.
The Company had previously provided guidance for fourth quarter 2011 revenue of between $24 and $26 million, which included a $4 to $5 million contribution from Qumu. It had estimated fourth quarter non-GAAP 2011 earnings per share, including $1.3 million of Qumu transaction costs but excluding the impact of amortization of intangibles, of between $(0.02) and $0.01.
The Company also announced that it expects to generate cash from operations in the fourth quarter. In addition, through its quarterly dividend and stock repurchase activities, it returned almost $4 million back to shareholders during the fourth quarter.
For the full year, the Company expects revenue of approximately $84 million. GAAP earnings per share are estimated to be between $0.28 and $0.30. These earnings include the amortization of Qumu intangibles and one time Qumu transaction costs of $1.7 million. After the impact of the Qumu acquisition, quarterly dividend and stock repurchase activity, the Company expects to end fiscal 2011 with approximately $70 million in cash on the balance sheet. The Street is currently modeling revs of $86.8 million and EPS of 57 cents.
The Street was looking for revs of $24.8 million and EPS of 11 cents.
The Company had previously provided guidance for fourth quarter 2011 revenue of between $24 and $26 million, which included a $4 to $5 million contribution from Qumu. It had estimated fourth quarter non-GAAP 2011 earnings per share, including $1.3 million of Qumu transaction costs but excluding the impact of amortization of intangibles, of between $(0.02) and $0.01.
The Company also announced that it expects to generate cash from operations in the fourth quarter. In addition, through its quarterly dividend and stock repurchase activities, it returned almost $4 million back to shareholders during the fourth quarter.
For the full year, the Company expects revenue of approximately $84 million. GAAP earnings per share are estimated to be between $0.28 and $0.30. These earnings include the amortization of Qumu intangibles and one time Qumu transaction costs of $1.7 million. After the impact of the Qumu acquisition, quarterly dividend and stock repurchase activity, the Company expects to end fiscal 2011 with approximately $70 million in cash on the balance sheet. The Street is currently modeling revs of $86.8 million and EPS of 57 cents.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- DA Davidson Assumes Knife River Corp. (KNF) at Buy
- Rush Enterprises Inc. (RUSHA) PT Raised to $85 at UBS
- JPMorgan Reiterates Overweight Rating on Phibro Animal Health Corp. (PAHC) Ahead of Q4 Print
Create E-mail Alert Related Categories
Guidance, Hot GuidanceRelated Entities
Dividend, Stock Buyback, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
